When it rains, it pours

The autumn has confirmed that 2018 will be ‘annus horribilis’ for global financial assets. Credit markets are bleeding and October was the worst month for stocks since 2012. November has only seen a tentative stabilisation.

Highlights:

  • The autumn has confirmed that 2018 will be ‘annus horribilis’ for global financial assets. Credit markets are bleeding and October was the worst month for stocks since 2012. November has only seen a tentative stabilisation.
  • The trade war remains the wild card. But somewhat milder forward guidance from the ECB and Fed should offer support into the finish line.
  • While risks have risen, a deeper global slowdown is not around the corner. Amid more attractive entry points, we slightly extend a tilt towards IG credit and keep a small overweight in equities.

Download the full publication below

WHEN IT RAINS, IT POURS

RELATED INSIGHTS

GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS
As lockdowns have been lifted and global activity rebounded from the Q2 nadir, hopes of a strong recovery have helped risk assets advance further over July.
Generali Investments among preferred asset managers brands in Europe
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
PODCAST:
LIFE AFTER COVID -
THE LDI VIEW
Listen to the dedicated Podcast by Vincent Chaigneau, Head of Research, on our view on the economic recovery, new behaviours in the aftermath of the pandemic and the unique opportunities for a European fiscal and political integration.
LOAD MORE